The United States Senate officially approved a $2 trillion coronavirus stimulus package to help boost the economy as we grapple with the devastating pandemic.
The passing of the legislation caught President Donald Trump’s attention. He tweeted out his congratulations to the country, celebrating the bipartisan agreement.
The sweeping bill, which is the largest economic- rescue package in the history of the nation, is expected to go to the House of Representatives for a vote on Friday morning. The House is expected to pass the measure. From there, Trump is expected to sign the legislation.
The plan will send checks to more than 150 million households in the nation, the Washington Post reports, as well as set aside $350 billion in small-business loans, $250 billion in unemployment insurance benefits and $500 billion in loans for companies heavily impacted by the pandemic.
It will also provide $130 billion in funding for hospitals, as well as $150 billion to assist state and local governments struggling to keep up with economic demands as they respond to the virus.
As CNN notes, the bill also ensures that Trump and his family, as well as members of Congress and other high-level government officials, will not be able to receive loans or investments from Treasury Department programs included in the package.
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